The key most recent and major news for vending was the acceptance of pre-paid cards. Pre-paid card payments were introduced in 2017, and expanded to around 5% of all payments in 2018.
The move by convenience store players to offer smaller outlets has led to increased direct competition with vending operators. Both OK Mart’s new OK Mini format and 7-Eleven’s vending store format represent a significant push into branded vending-based convenience store outlets.
Overall, there has been little activity or innovation within vending, as it is seen as a small format that fails to attract any substantial interest in expansion amongst major operators. However, a handful of retailers and manufacturers have considered vending to directly distribute their products.
Ongoing consolidation continued to occur amongst vending operators. Leading players remain the most active in development and adoption of new technologies.
The expansion witnessed by coffee vending in previous years is now facing significant decline. Vending’s key strength remains in ready-to-drink soft drinks, which tap into the convenience and impulse for many consumers during Taiwan’s hot and humid summer months.
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This industry report originates from Passport, our Retailing market research database.